20 Jan 2014
Gold stabilizes around $1,255 after making a run to $1,262
FXstreet.com (Córdoba) - At the beginning of trading, the value of the ounce of gold jumped to $1,262 reaching the strongest level since December 12, but quickly retreated to levels around $1,255. Currently trades at $1,255, $3 above Friday's closing price.
Last week finished with a small gain but far from the lows. The metal found support last week at $1,235 and rebounded, accelerating to the upside on Friday, after breaking a short-term resistance at $1,245. Price peaked at $1,255 where previous weekly highs lie.
Early in Asia, price rose above the import area around $1,255 and soared, but pulled back afterwards.Before the release of economic data from China gold was trading at $1,257 and moved slightly to the downside after the reports.
Last week finished with a small gain but far from the lows. The metal found support last week at $1,235 and rebounded, accelerating to the upside on Friday, after breaking a short-term resistance at $1,245. Price peaked at $1,255 where previous weekly highs lie.
Early in Asia, price rose above the import area around $1,255 and soared, but pulled back afterwards.Before the release of economic data from China gold was trading at $1,257 and moved slightly to the downside after the reports.